Bunge Ltd.'s (Bunge) net sales and margins declined y-o-y in 2Q 09, reflecting weakness across businesses but particularly in the Fertilizer segment. While Management has maintained its FY 2009 guidance from that issued with 1Q 09 results, considering the weak performance of 1H 09 and challenging near term demand and pricing environment, we expect to cut our target price in our next update report....

Although Bunge Ltd.’s (Bunge) net sales were in line with our estimate in 1Q 09, the company reported operating and net losses, mainly due to weakness in the Fertilizer segment. Considering the challenging near term demand and pricing environment, we expect to cut our target price in our next update report. Therefore, even though the target price derived in our last update report does not support a SELL, we downgrade the NYSE common stock to a SELL. We will reassess our NYSE…

CLICK VIEW REPORT TO READ FREE REPORT

Bunge Limited’s (Bunge) declared its 4Q 08 and FY 2008 results on 05 February 2009, with its revenue and operating income falling significantly below our estimates. Nevertheless, we remain optimistic of the company’s global reach and wide product portfolio, which make it well positioned to meet rising demand when economic conditions improve. However, in…